Gov’t ready to counter oil price spikes – Diokno

By Lee C. Chipongian Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the government and the BSP are prepared to counter any sudden upticks or spikes in domestic oil prices if things get out of hand, inflation-wise. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.(Bloomberg) Diokno said there are measures being undertaken by affected governments including the US and other oil-rich nations to prevent prolonged adverse effects of the oil supply challenges after the terrorist attacks on Saudi Arabia’s Saudi Aramco facilities. “The BSP staff will monitor the global and domestic markets’ response to the attack,” according ... more